INTRO Here's my semi-annual exercise to see if I remember why I own the stocks I own, and so I can check back and see if their stories have changed. I post in case it helps others too.
MVIS (market cap is $0.104B was $0.128B)
MicroVision is a electronics component company that has a technology that makes it easier to shrink projectors and sensors sufficiently to fit inside small packages for consumer, commercial, and industrial applications. The technology is based on mirror on a chip that can oscillate, bouncing light out to make a projector or bouncing light in to make a sensor. An analogy is the embedded cameras in cell phones that were initially laughed at, and are now ubiquitous in many devices.
The list of possible applications is easily overwhelming. Currently, however, the few commercially available products receive impressive reviews but not impressive revenues. A recent management shift seems to coincide with a product strategy shift from consumer goods like projectors for cell phones to less obvious applications like LiDAR sensors for smart homes and autonomous automobiles. Considering that various prospective customers have also proposed or produced eyewear, bracelets, robot assistants, and things like game controllers, the eventual success is difficult to predict.
The company is faced with a crisis of credibility. It was founded 25 years ago and has yet to be involved in a successful product. The current projection is that profitability is possible in 2019, but for years the recurring theme has been that “really good news” will arrive in about six to nine months. Maybe this time is different. At least the company has passed from an era when they easily could’ve gone out of business. Now, they have significant prospects with a much smaller chance of failure. The greater threat may be a premature buyout, something long-term shareholders like me fear and do not cheer.
DISCLOSURE LTBH since 1999 (though the very first shares are gone), and my patience is gone, yet my perseverance and majority of shares remain. Dilution no longer means that I have more than enough if the company finally succeeds and the stock reaches the heights I think are possible. I may buy and have bought more simply because the stock is so cheap.
(I've also collected links to the other discussion boards and my other stocks over on my blog http://trimbathcreative.wordpress.com/2018/06/30/semi-annual-exercise-Mid-2018/)